Commissioners adopt resolution for financing of fairgrounds building

Front elevation of the proposed new fairgrounds building.
Front elevation of the proposed new fairgrounds building.
At their regular meeting Monday, Dec. 18, Boone County Commissioners adopted the finance resolution for the new agriculture and education building at the fairgrounds.
The county will appropriate $1.3 million from the Inheritance Tax fund, and the Boone County Agricultural Society was authorized to negotiate a loan for $2.95 million for the construction.
To make the loan payments, the ag society is authorized to institute a levy of up to 3.5 cents per $100 of assessed value in its building fund.
Commissioners discussed various aspects of the building project with ag society members. One commissioner will serve on the building committee, which will likely be made up of five to seven members. An organizational meeting will likely be held in January.
The commissioners and fair board members also held a brief discussion on upcoming negotiations with the City of Albion on replat and possible annexation along the west edge of the fairgrounds